The government just announced a reduction in fuel prices, diesel down by Kshs 6.15 per litre, kerosene by Kshs. 4.57 per litre and super down by Kshs. 4.09.
Kenya being as it is the question becomes how soon will petrol stations reflect these changes and how many may actually refuse to make the changes. Even though they are always quick to reflect price hikes. Also does the reduction mean a decrease in transport fares. This is especially relevant during the rains when the matatus make their regular price hikes. It is ironic that the excuse the matatu operators often make to raise prices is the high cost of fuel. But now that the price of fuel has dropped, I doubt we will hear of any drops in fare prices.
One of the factors said to be driving inflation in Kenya is the rising price of fuel which increases transportation costs. However now that fuel prices have fallen I would be shocked if we actually see any drop in the price of goods. Maybe I'm being cynical but one thing you can say about life in Kenya is that it doesn't often lead to an optimistic view about anything. But you never know maybe this time will be different.
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